d4ved
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My apologies in advance if this post does not conform to the usual school of thought to use as many indicators that you can find mentality.
My winning Forex trading strategy is to use MT4 price line charts with 2 SMAs, and a good 28 currency pair currency strength meter to identify the pairs that I have the best chance of making a profit with. (I do not use candles or any other indicator)
Once the currency strength meter let me know the potential pairs to watch, I use a 14 SMA (red line) for trade exits and a 50 SMA (blue line) for trade entries that cross the price line (green line) on 1 hour charts, you can use whatever colours that you like.
The trade below resulted in a 351 pip profit, I could show many more similar profitable trades but why waste our valuable trading time.
This example of a simple easy effective trading strategy with a Currency Strength Meter is not suitable for everyone as one size does not fit all, I say this because some so called Expert traders who have never worked in any type of banking institutions would have you believe that this strategy is too simple and that you need 10 or 100 chart indicators to trade Forex, that totally hides the real picture so that you lose money like they do, please don't listen to them just "Keep It Simple". All you have to do is to paper trade with this simple strategy (Method) using a brokers demo account until you trust the method (Mind), learn some money management skills to keep the risks and/or leverages low (Money), then use a small amount of real money at first until you can trust yourself with larger amounts.
My winning Forex trading strategy is to use MT4 price line charts with 2 SMAs, and a good 28 currency pair currency strength meter to identify the pairs that I have the best chance of making a profit with. (I do not use candles or any other indicator)
Once the currency strength meter let me know the potential pairs to watch, I use a 14 SMA (red line) for trade exits and a 50 SMA (blue line) for trade entries that cross the price line (green line) on 1 hour charts, you can use whatever colours that you like.
The trade below resulted in a 351 pip profit, I could show many more similar profitable trades but why waste our valuable trading time.
This example of a simple easy effective trading strategy with a Currency Strength Meter is not suitable for everyone as one size does not fit all, I say this because some so called Expert traders who have never worked in any type of banking institutions would have you believe that this strategy is too simple and that you need 10 or 100 chart indicators to trade Forex, that totally hides the real picture so that you lose money like they do, please don't listen to them just "Keep It Simple". All you have to do is to paper trade with this simple strategy (Method) using a brokers demo account until you trust the method (Mind), learn some money management skills to keep the risks and/or leverages low (Money), then use a small amount of real money at first until you can trust yourself with larger amounts.
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